HP CEO, Meg Whitman, told analysts on Wednesday that the company she steers, has been "a little late to the game" when it comes down to shifting from the traditional PC to the mobile market.

Whitman added that Microsoft and Intel have gone from longtime partners of HP, to "outright competitors." She said that HP is moving, very aggressively, to diversify behind traditional PCs, which are looking like a dead end for HP. She said: "Wintel-based devices are being aggressively displaced by ARM-based PCs and mobile devices. PCs are declining while tablets are growing... Current long-running partners such as Intel and Microsoft are becoming outright competitors."